It says it has succeeded in putting a satellite into orbit and insists the launch was for purely peaceful purposes.

But the launch, seen by many as a cover for a ballistic missile test, has attracted widespread condemnation and sparked calls for tougher United Nations sanctions against Pyongyang.

The UN Security Council has met to condemn the rocket launch, saying it violates a resolution banning any launch using ballistic missile technology.

But Security Council members are still weighing what action to take for what is being called "an appropriate response".

In a statement on Wednesday night, the North Korean foreign ministry said the launch is not a matter for international debate.

"No matter what others say, we will continue to exercise our legitimate right to launch satellites," a spokesman said.

He urged the international community to "use reason and remain cool so as to prevent the situation from developing (in an) undesirable direction".

The White House labelled the launch a "highly provocative act" and vowed to work with international partners to seek "appropriate action" against Pyongyang.

South Korea labelled the launch as a flagrant violation of UN resolutions and a threat to stability on the Korean peninsula, while Japan said the launch could not be tolerated.

Australia has condemned the launch, with Prime Minister Julia Gillard and Foreign Affairs Minister Bob Carr issuing a joint statement calling the launch "a provocative and irresponsible act which has allowed North Korea to again test its ballistic missile technology".

North Asia correspondent Mark Willacy told PM that even China, one of the North's only allies, has expressed "regret" over the launch.

We knew that Beijing was pressuring the North Korean regime and Kim Jong-un himself to not go ahead with this rocket launch.

And it is very interesting to see the working of the Chinese condemnation.

It has said not only does it condemn what has happened but it's urged Pyongyang to 'suspend all activities related to its ballistic missile program'.

So there's the Chinese basically backing up with the Americans, the South Koreans, the Japanese are saying: that this isn't for peaceful rocket purposes at all, what this was was a disguised ballistic missile program.

The North launched the rocket about 9:52am (local time), close to the first anniversary of the death of former leader Kim Jong-il, and as elections loom in South Korea and Japan.

Flying south over the Japanese Island of Okinawa, the carrier rocket stuck to its scheduled flight path, shedding its second stage near the Philippines and apparently entering orbit shortly afterwards.

In stark contrast to the anger expressed by many nations, North Korea said the whole country "has been swept up with enormous joy" since the launch.

Pyongyang's official mouthpiece, KCNA, said "people's hearts are racing with excitement".

It quoted Lee Dae-Ik, a 62-year-old man in the capital, saying he could imagine how proud Kim Jong-il would have been.

"It brings tears to my eyes thinking all the efforts the dear leader has made to place our country at the top of the global space powerhouse," he said, according to the official media.

Iran congratulated the North for its "successful" launch, and denied having a role in preparing the rocket.

Iran's armed forces deputy chief, Brigadier General Masoud Jazayeri, told the Fars news agency the launch was good news for the people of North Korea.

"Dominant powers, like the United States, cannot halt the progress of independent states, who through resistance can quickly tread the path of scientific and technological self-reliance," he said.